Top 5 Affordable Residential Properties in Mumbai Under 50 Lakhs

The city of dreams – Mumbai – is an opportunist’s heaven. Glimmering with warmth, hope and prosperity, it is one, and probably the only, place in India that witnesses a rich influx of people every year, who flock into the city to earn a living and make their dreams come true.

Also known as the Financial Capital of India, Mumbai amazes everyone with its unmatched lifestyle and unbeatable growth opportunities. Though it may come across expensive, but everything is clearly worth it. Buying property in Mumbai, too, is no child’s game. The prices are sky-rocketing just like its sky-scrappers and it often becomes difficult for home buyers to purchase property of their dreams.

However, with little help and expert assistance from reputed real estate agent, you can certainly relish the dream of buying affordable residential properties in Mumbai. To help you strike the best deal, here’s a list of five housing projects in Mumbai that allow you to buy residential properties in under Rs 50-lakh budget.

1. Puranik Kavya Dhara

Location: Located at Kolshet Road, Mumbai, Puranik Kavya Dhara is a well known residential housing scheme by Puranik Developers. Kolshet is touted as one of the best locations for peaceful living. The apartments enjoy close proximity to Majiwada Junction and are conveniently connected to other areas of the city as well. Thane Railway Station is approximately 7 KMs and Mumbai Nasik Highway is also located nearby.

Price & size: The ready-to-move in project has 1 and 2 BHK homes with an area that ranges from 595 to 950 sqft. Available at a base price of 44.63 lacs, the apartments are one of the best buys in the city.

Amenities: The apartments are fully equipped with world class amenities that offer convenience and luxury every step of the way. The residential housing project offers a brilliantly constructed multipurpose hall, cafeteria, kids play area, sports arena, landscaped gardens, Wi-Fi connectivity, a fire alarm system, elevators, and CCTV surveillance systems, and more.

While Mumbai real estate is infamous for its sky-rocketing prices, there are areas in the city where you can easily find your dream house well within your budget. A little research, a good property agent, and some wise moves can help you strike the best deal.

1. Ajmera Heights

Location: Developed by the famous Ajmera Developers, Ajmera Heights is an exceptional next-gen, ready-to-move residential project that nestles in the soothing and lush green environment of Kalyan, away from the hustle and bustle of the city.

Price & Size: The residential 1, 2 BHK homes have a build-up area of 595-925 sq.ft. and are superbly constructed by expert engineers and architects. Available in the price range of Rs 31.54 lacs to Rs 49.03 lacs, the apartments offer a perfect blend of tradition and modernity.

Amenities: Ajmera Heights is loaded with incredible features and world-class amenities that make living in these apartments a dream come true. The housing project is well equipped with high-tech security features, automatic elevators, fully functional clubhouse, kids play area, sports facility, jogging tracks, senior citizens corner, podiums, and well equipped gymnasium for the convenience and benefits of its residents.

1. Wadhwa Wise City

Location: Wadhwa Wise City is an epitome of brilliantly planned township projects in Mumbai. Developed by famous Wadhwa Group, the township is the best place to find affordable residential properties in Mumbai. The residential township is being developed in Panvel, which is quickly developing as the hub to invest and buy properties in Mumbai. With close proximity to Pune and Mumbai both and proposed International Airport coming up in close vicinity, Panvel is known as the future destination for home buyers.

Price & Size: Spread across 138 acres of land, Wadhwa Wise City is a perfectly planned township that is steadily being transformed into a grand project. Divided into various phases, every tower offers luxurious 1 and 2 BKH apartments with a build up area of 289-628 sqft. The affordable houses are available in the price range of 25 lacs to 54.33 lacs and offer great returns on investment.

Amenities: Wadhwa Wise City is fully loaded with all modern amenities and world-class facilities that you would always wish for in your dream house. A fully functional gymnasium, clubhouse, sports area, kids play area, outdoor play area, CCTV surveillance, banquet hall, automatic elevators are just some of the key highlights.

1. Godrej Sky Gardens

Location: Nestled in Badlapur, Godrej Sky Gardens is a high-rise skyscraper in Mumbai that looks nothing less than an architectural marvel. The 18-storied building has been constructed artistically and is loaded with top-notch facilities. Strategically situated in Thane District, Badlapur is one of the fastest developing localities of Mumbai that offers promising returns on investment.

Price & Size: Godrej Sky Gardens has about 400 units of flats in the size range of 435-696 sqft and are available at a starting base price of Rs 24.43 lacs.

Amenities: The bright and spacious apartments are equipped will well-crafted interiors and state-of-the-art facilities to provide you a luxurious lifestyle. Godrej Sky Gardens is loaded with a number of life-enhancing amenities like kids' play area, swimming pool, gym, terrace amenities, open greens, lounges, recreational areas and more to offer both convenience and luxury at an amazing price point.

1. Tejas Narmada

Location: Tejas Narmada at Ulwe, Navi Mumbai, is a ready-to-move, 42-unit project by Tejas Developers. Situated in an eco-friendly environment, the residential apartments offer comfort, convenience and excellent connectivity from all parts of Mumbai.

Price & Size: The project offers 1 and 2 BKH residential apartments with the size of 640 sqft to 907 sqft for the buyers. The price of these apartments starts from Rs 32 lacs (for 1BHK) and goes up to Rs 45.35 lacs (for 2BHK).

Amenities: The complex is equipped with all modern amenities like children's play area, garden, gymnasium, 24-hour power back up, intercom facility, vigilant security system and a fully functional clubhouse. The apartments are situated in close proximity to all essential service points like schools, colleges, banks, hospitals, markets, restaurants, bus stops and train station, which makes living in Tejas Narmada a breeze.

Today, there are a number of developers are coming up with affordable residential properties in Mumbai to attract people to invest in the real estate market. So, just some thorough research and a good real estate agent can help you strike the best deal.